Wall Street rallied on Tuesday as investors bought beaten-down stocks a day after fears about China's economy sent the market into its worst slump in four years. Investors drove prices sharply higher from the opening bell but caution set in by the afternoon due to lingering concerns that a slowdown in China could hobble global growth, even after the country's central bank cut interest rates on Tuesday for the second time in two months. "We had a panic yesterday. As people get back in the market, they're questioning what everything is worth, said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago.

The Chicago Park District heads to market Thursday with $88 million of double-A rated debt that market participants say should offer up some alluring yield premiums due to the troubled Chicago name. The district's highest rating of AA-plus comes from Standard & Poor's with Kroll Bond Rating Agency putting the district at AA and Fitch Ratings assigning its AA-minus rating. All three affirmed the ratings and their stable outlook. The deal should price cheaper "because of the radioactivity of Chicago and its name," said Brian Battle, director of trading at Performance Trust Capital Partners.

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